Senate Democrats Must Pass Sen. Wyden's Bold Drug Pricing Principles Into Law

The following is a statement from Alex Lawson, Executive Director of Social Security Works, on newly released drug pricing principles from Sen. Ron Wyden (D-OR):

"Senator Wyden's drug pricing principles are a road map for taking on the greed of pharmaceutical corporations and lowering drug prices for all Americans.

Wyden, the powerful chair of the Senate Finance Committee, is clear that we need real reforms, not tinkering around the edges that will leave drug prices high. His principles state that Congress must give Medicare the power to negotiate lower drug prices. And that those lower prices must be available to everyone, not just Medicare beneficiaries.

Furthermore, drug prices can't grow faster than inflation and people must actually pay less for drugs at the pharmacy. The principles reaffirm that public investment is what drives research and development and the American people can't be charged the highest prices in the world for drugs that we've already paid to develop.

Senate Democrats must use the next reconciliation package to pass a bold drug pricing plan into law. Millions of seniors, people with disabilities, and families are in desperate need of lower drug prices. Nearly half of patients have failed to fill a prescription due to high prices.

Not only is lowering drug prices a moral imperative, it's a political necessity. Seventy-seven percent of voters, including 70 percent of Republican voters, want the government to do more to reduce the prices of prescription drugs. In 2020, Democrats won control of Congress by making a promise to lower drug prices a centerpiece of their platform. If they want to maintain power in 2022, they must keep that promise."